Output persistence from monetary shocks with staggered prices or wages under a Taylor Rule

Sebastiano Daros () and Neil Rankin

Economics Letters, 2009, vol. 105, issue 2, 148-151

Abstract: We analytically examine output persistence from monetary shocks in a DSGE model with staggered prices or wages under a Taylor Rule. Surprisingly, while Taylor-style staggering never yields persistence, Calvo-style staggering of wages does generate persistence under decreasing returns to labour.

Keywords: Output; persistence; Staggered; prices/wages; Taylor; Rule (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (2)

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Working Paper: Output Persistence from Monetary Shocks with Staggered Prices or Wages under a Taylor Rule (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:105:y:2009:i:2:p:148-151

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